AXIS MEGALINK SDN BHD v FAR EAST MINING PTE LTD

Case Significance

Axis Megalink Sdn Bhd v Far East Mining Pte Ltd [2024] SGHC 47 was decided in the General Division of the High Court on 22 February 2024, with grounds of decision delivered by Goh Yihan J after a hearing on 12 January 2024. In Suit No 342 of 2021 (Summons No 3163 of 2023), the applicants, Axis Megalink Sdn Bhd and Mr Lee Kien Han, applied against Far East Mining Pte Ltd for a stay of execution of the judgment and costs order in the suit, as well as for the defendant's solicitors to hold a sum of $200,000 (previously held by the applicants' solicitors as security for costs), both pending Axis's appeal in relation to those orders. The judgment records that, after hearing the parties on 12 January 2024, Goh Yihan J ordered a stay of execution of the Suit 342 Orders, conditional on the applicants paying to the defendant's solicitors, to hold as stakeholder within two weeks, the remainder of the damages and costs arising from the orders, less the remainder of the $200,000 already held. The catchwords indicate the case concerned a stay of execution of a judgment pending appeal and the conditions to be imposed. The dispute in Suit 342 centred on an engagement letter dated 16 August 2016 under which Far East Mining Pte Ltd engaged Axis as its introducer and arranger. The applicants were represented by counsel including from David Lim & Partners LLP and Eldan Law LLP, and the defendant by WongPartnership LLP.